Alibaba Group Holding Limited (NYSE:BABA) Shares Purchased by Naviter Wealth LLC

Naviter Wealth LLC raised its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 2.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 47,259 shares of the specialty retailer’s stock after acquiring an additional 959 shares during the period. Naviter Wealth LLC’s holdings in Alibaba Group were worth $5,015,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. AMF Tjanstepension AB boosted its holdings in shares of Alibaba Group by 79.5% in the 2nd quarter. AMF Tjanstepension AB now owns 2,610,884 shares of the specialty retailer’s stock valued at $188,197,000 after purchasing an additional 1,156,479 shares during the last quarter. Marshall Wace LLP increased its holdings in Alibaba Group by 384.2% in the 2nd quarter. Marshall Wace LLP now owns 1,424,944 shares of the specialty retailer’s stock valued at $102,596,000 after purchasing an additional 1,130,643 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Alibaba Group by 523.8% during the second quarter. Renaissance Technologies LLC now owns 1,335,600 shares of the specialty retailer’s stock worth $96,163,000 after purchasing an additional 1,121,500 shares in the last quarter. Primecap Management Co. CA boosted its position in shares of Alibaba Group by 5.2% in the second quarter. Primecap Management Co. CA now owns 21,870,987 shares of the specialty retailer’s stock worth $1,574,711,000 after buying an additional 1,074,175 shares during the period. Finally, ARGA Investment Management LP grew its stake in shares of Alibaba Group by 39.2% in the first quarter. ARGA Investment Management LP now owns 3,582,005 shares of the specialty retailer’s stock valued at $259,194,000 after buying an additional 1,009,397 shares in the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Analyst Upgrades and Downgrades

BABA has been the subject of a number of analyst reports. Morgan Stanley restated an “equal weight” rating and issued a $90.00 price target on shares of Alibaba Group in a report on Friday, August 23rd. Macquarie raised shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price target for the company in a report on Monday, October 7th. Truist Financial cut their price objective on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Benchmark reaffirmed a “buy” rating and set a $118.00 target price on shares of Alibaba Group in a research report on Friday, August 16th. Finally, Barclays increased their price target on Alibaba Group from $107.00 to $137.00 and gave the company an “overweight” rating in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $112.63.

Alibaba Group Stock Performance

Shares of Alibaba Group stock traded down $2.31 during trading hours on Thursday, reaching $99.86. The company’s stock had a trading volume of 1,413,240 shares, compared to its average volume of 17,847,072. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41. The company’s 50 day simple moving average is $91.46 and its 200 day simple moving average is $81.84. Alibaba Group Holding Limited has a one year low of $66.63 and a one year high of $117.82. The stock has a market cap of $253.39 billion, a P/E ratio of 23.82, a price-to-earnings-growth ratio of 0.55 and a beta of 0.35.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, beating the consensus estimate of $1.87 by $14.57. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The company had revenue of $243.24 billion during the quarter, compared to analyst estimates of $248.32 billion. During the same quarter last year, the firm posted $2.47 EPS. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, analysts expect that Alibaba Group Holding Limited will post 7.93 EPS for the current fiscal year.

Alibaba Group Profile

Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. The company operates through seven segments: China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiatives and Others.